Wed.Aug 23, 2023

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AI risk concerns don't stop people from trusting AI

Accounting Today

While people seem to have concerns about the rise of generative AI and the risks it presents, people are still using it and trusting its answers.

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That’s a wrap! Xerocon Sydney highlights from day two

Xero

It was great to see so many new and familiar faces from Xero’s accounting and bookkeeping community at Xerocon Sydney 2023. As always, day one featured a packed agenda – and you better believe the pace didn’t let up on day two. Sharing insights and inspiration We had another busy morning on the main stage. The day kicked off with a moving welcome from Te Raranga Whanui Kapahaka group, followed by an insightful conversation between Xerocon host Julia Zimero and Xero CEO, Sukhinder Si

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New rules require audits for private equity and hedge funds

Accounting Today

The Securities and Exchange Commission adopted new rules and amendments aimed at tightening the regulation of private fund advisors.

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My 9 Favorite Ways to Prevent Scope Creep

Future Firm

As new ideas and features emerge, it’s all too easy for the initial project boundaries to expand far beyond their intended limits. In this episode, I discussed nine key strategies that I have tested in the field to effectively prevent scope creep. Listen Below. 0:43 Scope creep or out-of-scope work is defined as performing tasks not outlined in the client agreement.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

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What will it take for AI to transform accounting? Human intelligence

Accounting Today

There are several compelling reasons why the future of finance requires organizations to strike a balance between both human and machine-driven intelligence.

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Accounting Tasks Cause Annual Stress for Half of Small Business Owners

Dext

A recent survey by Dext has revealed the ongoing accounting pressures felt by small business owners at present. The survey of 250 small business leaders in the UK uncovered some major issues relating to the time required to complete bookkeeping tasks, visibility of finances, and general ongoing stress.

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AI document processing: The complete guide

Nanonets

AI-based document processing is transforming the way businesses handle paperwork. It is overhauling traditional data entry, approval systems, and document management. As per a Smartsheet study , workers spend over a quarter of their week on mundane tasks like data management. Most of us can relate to the frustration of sifting through complex documents, manually extracting data, or struggling with clunky document management systems.

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Vanguard's tax-busting fund design getting a revamp

Accounting Today

Distinct tax treatments have historically separated the ETF and mutual fund categories, with the former able to avoid capital-gains levies.

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Efficient Dispute Management in Account Receivables: Empowering Financial Success

Gaviti

Efficient dispute management plays an essential role in improving your organization’s financial and business success. Disputes within account receivables can lead to delayed payments, strained customer relationships and unforeseen cash flow problems. By implementing an effective process, businesses can swiftly resolve discrepancies and promote a healthy cash flow.

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Productivity in accounting: Is technology the problem?

Accounting Today

Technology saves us a lot of time and effort — but it also requires a lot of time and effort. Are we really coming out ahead?

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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Is AI Development and Adoption Outpacing Regulation?

Insightful Accountant

According to a new Xero survey, there are calls among small business owners for greater data protection and education, with 77% believing AI will have an impact on their business in the next five years.

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Vendor Spotlight: April

Accounting Today

In this Vendor Spotlight we hear from Ben Borodach, co-founder and CEO of tax solutions provider April.

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Hospitals Fail to Comply with Price Transparency Rule

RevCycle

The Hospital Price Transparency Rule was enacted in 2021 with the goal of making hospital prices more transparent for patients. The rule requires hospitals to post their standard charges, negotiated rates, and cash prices for 300 common services online in a machine-readable format. However, more than two years after the rule went into effect, many hospitals are still not in compliance.

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PwC partner pay in U.K. drops below £1M as profit declines

Accounting Today

Profits at the U.K. arm of the Big Four firm declined to £1.3 billion in the year to June 2023, from £1.

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.

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Check register definition

Accounting Tools

Related Courses Bookkeeping Guidebook Payables Management What is a Check Register? A check register is a document on which is stated the payment dates, check numbers, payment amounts, and payee names for all check payments. The report is used to determine the exact payments included in a check run; as such, it is considered a necessary part of the accounts payable process.

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NASBA awards accounting research grants

Accounting Today

The National Association of State Boards of Accountancy announced the recipients of its 2023 Accounting Education Research Grants.

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Xero Expands Relationship with US PKF firm & Related Entity

Insightful Accountant

PKF Mueller and Mueller dotKonnect sign up to global agreement, making Xero the preferred accounting software for their clients.

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Optimizing 'day two' lease accounting for effective financial reporting

Accounting Today

To successfully navigate day two and beyond with lease contracts, organizations must move past manual processes and spreadsheets and instead implement lease accounting software solutions.

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8 Pillars of Leadership Development

Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.

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Translucent Accounting Platform Raises £5M Seed-round

Insightful Accountant

The accounting platform Translucent has raised £5M seed-round led by Europe's No. 1 seed investor, LocalGlobe.

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Help Clients Beat the House: Tax Strategies for Gambling Winners

Blake Oliver

As an accountant, you know any additional income means a potential tax liability for your clients. For clients who gamble, winnings can lead to unexpectedly high tax bills. Keep the house from taking your clients' hard-won gains. In Episode 49 of my Earmark Podcas t , I interviewed gambling tax expert Zak Zimbile, CPA , on strategies to minimize taxes on gambling income.

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Xero Beautiful Business Fund Submissions Now Open

Insightful Accountant

Xero has opened applications for its inaugural Xero Beautiful Business Fund.

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What is cloud accounting for business?

Billah and Associates

Many people may believe that the word “Cloud” has been overused and is now a touch stale. The cloud has, in fact, never been more important for SMBs, especially cloud accounting for business. Cloud accounting for business software may revolutionize your accounting , tax preparation, and bookkeeping process, simplify financial management, and give you a real-time view of your most important figures.

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How to Modernize Manufacturing Without Losing Control

Speaker: Andrew Skoog, Founder of MachinistX & President of Hexis Representatives

Manufacturing is evolving, and the right technology can empower—not replace—your workforce. Smart automation and AI-driven software are revolutionizing decision-making, optimizing processes, and improving efficiency. But how do you implement these tools with confidence and ensure they complement human expertise rather than override it? Join industry expert Andrew Skoog as he explores how manufacturers can leverage automation to enhance operations, streamline workflows, and make smarter, data-dri

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What is Augmented FinOps? 5 Greatest Benefits & Examples

Economize

Moving beyond traditional reactive approaches, Augmented FinOps enables proactive and agile cost management, allowing organizations to continually optimize their cloud infrastructure.

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How to Avoid Elastic IP Cost Issues

finout

Discover ways to efficiently manage AWS Elastic IP costs.

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Drop shipping definition

Accounting Tools

Related Courses Inventory Management What is Drop Shipping? Drop shipping involves having a supplier ship goods directly to the customer of the seller. By doing so, the seller never has to touch the inventory at all. When a seller uses drop shipping, it eliminates the following transactions , all of which could potentially involve damage to the goods: Receive goods Move goods to quality review area Examine goods based on receiving criteria Move reviewed goods to warehouse storage area Pick goods

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Member Spotlight: Make Your Mark with Education

NACM

​Credit professionals must continuously stay informed and increase their credit knowledge to advance in their career—after all, knowledge is power. By attending NACM's Graduate School of Credit and Financial Management (GSCFM), a hybrid program that covers four essential business and professional growth disciplines: Advanced Financial Statement Ana.

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Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.

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Multi-currency center definition

Accounting Tools

Related Courses Corporate Cash Management What is a Multi-Currency Center? A multi-currency center is a cash pool in a cluster of subsidiary bank accounts and a concentration account into which funds flow from the subsidiary accounts. If a company pools all of its foreign currency accounts in a single location, this is called a multi-currency center arrangement.

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The Future of UX Is. Spreadsheets! & QuickBooks Leader Is New CEO of PayPal

Cloud Accounting Podcast

In this episode, Blake and David talk app integration frustrations, Gusto's new payroll feature, increased fees for tax professionals, a tragic accident involving an IRS agent, low job fulfillment among accountants, and an employee stock ownership plan at BDO. They also dive into Amazon's new product review feature and the appointment of a former Intuit executive as the new CEO of PayPal.

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Capital account definition

Accounting Tools

Related Courses Law Firm Accounting Partnership Accounting Partnership Tax Guide What is a Capital Account? A capital account is used by sole proprietorships and partnerships to track the net investment balance of their owner(s) from the perspective of the business. The balance in a capital account is usually a credit balance , though the amount of losses and draws can sometimes shift the balance into debit territory.

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Manufacturing overhead rate definition

Accounting Tools

Related Courses Accounting for Inventory Activity-Based Costing Cost Accounting Fundamentals What is the Manufacturing Overhead Rate? A manufacturing overhead rate is the standard amount of factory overhead cost assigned to each unit of production. This information is used in accrual-basis accounting to assign factory overhead costs to units that have been sold and to units that are stored in inventory.

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How to Set Better OKRs and Drive Results

Before you can achieve success, you have to define it. Objectives and Key Results (OKRs) give you the framework to do just that. Paycor’s free guide includes a step-by-step process leaders can use to work toward – and achieve – their loftiest business goals.